Registrar Of Companies

RoC fines V-Guard MD over appointment, retirement related rules violation

The Managing Director of V-Guard Industries, a manufacturer of electrical and home appliances, has been fined by the Registrar of Companies (RoC) over violation of rules and regulations related to retirement and appointment of directors on the board. The RoC Ernakulam has imposed a penalty of Rs 2.03 lakh on V-Guard Industries Managing Director M K Chittilappilly for violation of Section 152(6) of the Companies Act over an application filed by the company suo moto. "The Managing Director has received an Adjudication order from RoC, Kerala imposing penalty under Section 159 of the Act for default under Section 152(6) of the Act," the company said in a regulatory filing. Section 152 (6) of the Companies Act governs the appointment and retirement of directors in Indian companies. It mandates the retirement of all directors at Annual General Meetings (AGMs). One-third of rotational directors should retire each year, but the number may vary depending on the total directors' count. Howe

RoC puts Rs 10 cr fine on 2 cos, 9 individuals for violating companies law

Clamping down for illegal fundraising activities, the corporate affairs ministry has slapped fines totalling nearly Rs 10 crore on two companies and nine individuals as they violated private placement norms. The fines have been imposed on Planify Capital and four individuals as well as on Mayasheel Retail India Pvt Ltd (Bazar India) and five individuals, according to two orders passed by the Registrar of Companies, NCT of Delhi & Haryana on April 3. The action has been taken against the entities for violating Section 42 of the Companies Act, 2013, which pertains to the issuance of securities through the private placement route. Fines totalling Rs 7 crore have been imposed on Planify Capital and four individuals. A total penalty of nearly Rs 2.89 crore has been imposed on MayaSheel Retail India and five individuals. It was found that the entities used a crowdsourcing platform 'Planify' to reach out to investors for issuing securities through the private placement route. Planify ...

NBFC major L&T Finance Holdings receives approval for name change from RoC

The name of L&T Finance Holdings (LTFH) has been changed to L&T Finance Ltd following approval from the Registrar of Companies (RoC), the company said in a statement on Friday. Mumbai-headquartered L&T Finance, formerly known as L&T Finance Holdings, is a leading non-banking financial company (NBFC), offering a range of financial products and services. L&T Finance Managing Director & CEO Sudipta Roy said subsequent to the merger, effective December 4, 2023, the rebranding initiative reflects company's commitment towards creation of the simplified 'single lending entity', housing all lending businesses under one operating NBFC. "To us, the name change simply signifies a renewed focus on delivering value to our customers and driving sustainable growth," Roy said. In December 2023, the company had successfully completed the merger of its subsidiaries -- L&T Finance, L&T Infra Credit, and L&T Mutual Fund Trustee, with itself. Apurva Rathod, Company ...

Govt slaps penalty on four firms that failed to hire female directors

The action has been taken against three private and one Maharashtra govt company. The development sheds light on the govt's emphasis on having more female leaders in company boardrooms

Sebi issues guidelines to improve governance, preparedness of QRTAs

Capital markets regulator Sebi on Friday came out with guidelines to strengthen governance of qualified Registrars and Transfer Agents (QRTAs) for handling disruption and improving preparedness by conducting periodic drills. In its circular, the regulator has asked QRTAs to put in place a Business Continuity Plan (BCP) and Disaster Recovery Site (DRS) in a bid to ensure continuity of operations and maintain data and transaction integrity. Apart from DRS, all QRTAs are required to have a Near Site (NS) to ensure zero data loss. Qualified RTAs -- RTAs having more than 2 crore folios -- are systemically important institutions as they provide the infrastructure necessary for the smooth and uninterrupted functioning of the securities market. As part of operational risk management, these QRTAs need to have a high level of resilience to provide essential facilities and perform systemically critical functions uninterruptedly in the securities market. The new guidelines are aimed at ...

RoC to check GoMechanic's books amid allegations of irregularities: Report

According to the Companies Act, Section 264 (4), the RoC has the authority to conduct an inquiry into the affairs of a company in line with directions from the Ministry of Corporate Affairs (MCA)

No online transactions in MF folios with wrong phone numbers from Oct: CAMS

According to the registrar and transfer agent (RTA), the phone number and email ids can be the same only for those folios which are linked to the same PAN card.

Ex-Dy Registrar of Companies, 3 others arrested in Kolkata chit fund case

The Central Bureau of Investigation (CBI) has arrested then Deputy Registrar of Companies, Kolkata and three others in a case related to chit fund

Future Lifestyle Fashions gets three-month extension for holding AGM

Future Lifestyle Fashions Ltd (FLFL) on Thursday said it has received a three-month extension from the Registrar of Companies for holding its Annual General Meeting. The Future group firm has received a letter from the Registrar of Companies Mumbai, Maharashtra, on Thursday, granting an extension for a period of three months for holding the AGM till December 31, 2022, the company said in a statement. "Accordingly, the aforesaid Annual General Meeting of the Company would be held within the extended timeline," it said. FLFL has in-house retail chains Central and Brand Factory, Exclusive Brand Outlets (EBOs) and other Multi-Brand Outlets (MBOs of nearly a dozen apparel labels, including - Lee Copper, Champion, aLL, Indigo Nation, Giovani, John Miller, Scullers, Converse and Urbana in its portfolio. FLFL was part of 19 group companies operating in retail, wholesale, logistics and warehousing segments, which were supposed to be transferred by Kishore Biyani-led Future Group to Relian

Centre may drop CEL sale amid ongoing money laundering case against bidder

A case is pending against Nandal Finance at NCLAT; RoC has also filed a winding-up petition against the firm

India probes L&T's employee welfare arm for alleged fraud

The Registrar of Companies has issued a notice to two companies -- LandT Welfare Co Ltd. and L&T Employees Welfare Foundation -- seeking their response

ED says crackdown on online betting websites found Chinese involvement

Agency seizes Rs 47 crore after searching more than 15 locations in Delhi, Gurugram, Mumbai and Pune

YES Bank files prospectus with RoC to raise up to Rs 15,000 cr via FPO

Restates accounts for last three years, but no impact on bottom line

Honda Siel Power Products changes name to Honda India Power Products

Subsequent to cessation of JV with Usha International, Honda Siel applied for the corporate name change which was recently certified by RoC

NCLAT upholds its judgment in Tata-Mistry case, dismisses RoC plea

In its order dated December 18, the NCLAT had said Tata Sons had hurriedly changed its status to private company from public 'with the help of the Registrar of Companies'

Tata Sons case: NCLAT ready to expunge remarks against RoC; seeks details

NCLAT adjourned the hearing till tomorrow and has sought clarification from RoC on what constitutes a private company

Registering a company? Starting a business gets just a little bit easier

Experts suggested the MCA give access to the data and documents filed by companies to banks

Ensure compliance or face action: Corp ministry to disqualified directors

Statutory filings under the Companies Act are submitted to the ministry through the MCA21 portal

Infosys submits applications with RoC in ex-CFO's severance agreement issue

Infosys had agreed to pay Bansal a severance amount of Rs 17.38 crore or 24 months of salary

NFRA, RoC seek information on whistleblower complaints, says Infosys

Infosys condemned the "mischievous insinuations made by anonymous sources against the co-founders and former colleagues, suggesting their involvement in the recent whistleblower allegations".